Airtel’s Rs 25,000-crore rights issue to open on May 3 and close on May 17

Bharti Airtel’s biggest rights issue of Rs 25,000 crore will open on May 3 and close on May 17, the company said in a regulatory filing.

Bharti Airtel said its board of directors in a meeting held on Friday approved rights issue which is scheduled to open on May 3 and close on May 17.

“Last date for receiving request for split application form (is) May 10, 2019,” the filing said.

Bharti Airtel has already fixed April 24 as the ‘record date’ to determine shareholders’ eligibility to apply for the equity shares.

Airtel has announced rights issue to raise up to Rs 25,000 crore through issuance of fully paid-up shares at a price of Rs 220 per share, and additional Rs 7,000 crore through a foreign currency perpetual bond issue.